Canada's Telus Posts Increases in First-Quarter Financials

Canada's Telus has reported its first quarter financial results and posted decent improvements in both revenues and profits.

Revenues were 5 percent higher for the three month period at C$2.9 billion,
while net profits rose by 4.1 percent to C$377 million. Free cash flow of $291
million was down $67 million, largely reflecting higher cash income taxes, as
well as increased capital expenditures.

In the first quarter, Telus attracted 48,000 net new wireless postpaid
customers, 27,000 TV subscribers and 21,000 high-speed Internet customers. The
total Telus TV subscriber base is up 18 percent from a year ago to 842,000,
while high-speed Internet connections are up 5.5 percent to 1.4 million.

Postpaid net additions of 48,000 were partially offset by a loss of 36,000
lower-ARPU prepaid subscribers (excluding Public Mobile) for total net additions
of 12,000, compared to 33,000 a year ago. The total wireless subscriber base
(excluding Public Mobile) was up 1.5 percent from a year ago to 7.8 million,
while the proportion of high-value postpaid subscribers represents 87 percent of
the base.

Smartphone subscribers now represent 78 percent of Telus' postpaid base, up
from 68 percent a year ago.

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